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Stock Market & Financial Investment News

News Breaks
December 18, 2012
10:00 EDTCRZO, YOKU, HRZN, MEMP, CTRP, GS, CUB, SPRD, DUKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Duke Energy (DUK) upgraded to Buy from Hold at Deutsche Bank... Goldman Sachs (GS) upgraded to Positive from Neutral at Susquehanna... Horizon Technology (HRZN) upgraded to Outperform from Market Perform at Wells Fargo... Spreadtrum (SPRD) upgraded to Neutral from Underperform at BofA/Merrill... Ctrip.com (CTRP) upgraded to Outperform from Neutral at Macquarie... Youku Tudou (YOKU) upgraded to Outperform from Underperform at Macquarie... Cubic (CUB) upgraded to Buy from Hold at Needham... Memorial Production (MEMP) upgraded to Strong Buy from Outperform at Raymond James... Carrizo Oil & Gas (CRZO) upgraded to Add from Neutral at Capital One.
News For DUK;GS;HRZN;SPRD;CTRP;YOKU;CUB;MEMP;CRZO From The Last 14 Days
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February 24, 2015
06:15 EDTGSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
06:01 EDTMEMPMemorial Production upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Memorial Production Partners to Overweight saying the company's distribution looks sustainable. The firm raised its price target for shares to $18 from $16.
February 23, 2015
07:37 EDTDUKCredit Suisse to hold a summit
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06:52 EDTGSGoldman Sachs sees $3B in possible legal costs above reserves
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February 20, 2015
16:23 EDTDUKDuke Energy, U.S. reach proposed agreement on Dan River coal ash spill
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February 19, 2015
07:12 EDTGSWharton Health Care Club to hold a conference
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06:47 EDTGSReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
16:09 EDTCUBCubic combines defense segments
Cubic Corporation announced effective it has combined its two defense operating segments into a single segment called Cubic Global Defense, CGD, to better align its organizational structure with customer requirements, increase operational efficiencies and improve collaboration and innovation across the enterprise. The formation of CGD also supports the companyís announcement to streamline its functions across the enterprise to improve profitability and competitiveness. Cubicís defense business totals approximately $800M in annual revenues and serves a diverse U.S. and international customer base concentrated in live, virtual, constructive and gaming training domains, leader and doctrine development, national security programs, special operations and secure communications in the C4ISR market. The consolidated CGD is comprised of six business units with more than 5,500 employees. William J. Toti, former president of Cubicís Mission Support Services segment, has been named president of CGD. Prior to joining Cubic, Toti led a $1.3B business unit in Hewlett-Packardís Enterprise Services sector for the U.S. Navy and Marine Corps Next Generation Enterprise Network program. Prior to HP, Toti was vice president of the Mission Support Operations unit at Raytheon. He also served more than 26 years in the U.S. Navy.
16:05 EDTCUBCubic implements cost-saving initiatives to improve profitability
Cubic Corporation announced the next steps in streamlining its corporate and business segment operations as part of a company-wide activity to improve profitability and competitiveness through its One Cubic initiatives. The companyís new operating structure is effective immediately. These initiatives are anticipated to yield $15-16M in annualized pre-tax savings in fiscal year 2016. The company will incur a pre-tax charge in the second quarter of fiscal year 2015 of approximately $6M due to the restructuring, but estimates cost savings for the balance of the year will result in the restructuring having a neutral impact on its earnings per share for fiscal year 2015.
10:41 EDTDUKDuke Energy sees 2013-2019 CAGR growth of 6%
Sees 2015-2017 long term retail load growth of approximately 1%. The company believes 2018 and 2019 earnings growth drivers include base rate case activity in the Carolinas, retail load growth, regulated grid and generation investments, and commercial investments.
10:40 EDTDUKDuke Energy sees FY16 CapEx $9.8B, FY17 CapEx $8B
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10:39 EDTDUKDuke Energy sees FY15 retail load growth of 0.5%-1%
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07:33 EDTGSGoldman Sachs vows legal battle with Bank of Portugal over loan, Reuters says
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07:21 EDTGSJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:08 EDTDUKDuke Energy in settlement discussions with U.S. related to Dan River spill
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07:08 EDTDUKDuke Energy to own, operate business to access $2.7B in foreign earnings
The company has completed a strategic review of its International Energy business. As a result, Duke Energy will continue to own, operate and create value with the business. Additionally, a plan has been developed giving the company access to $2.7 billion in foreign earnings through 2022. Reported results for the quarter include a $373 million, or 53c per share, tax charge resulting from this plan. This charge has been excluded from the company's adjusted diluted EPS results for 2014.
07:08 EDTDUKDuke Energy targets long-term adjusted EPS growth of 4%-6% through 2017
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07:08 EDTDUKDuke Energy sees FY15 adjusted EPS $4.55-$4.75, consensus $4.76
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07:08 EDTDUKDuke Energy reports Q4 adjusted EPS 86c, consensus 88c
Reports Q4 operating revenue $5.20B, compared to $5.14B a year ago.
05:07 EDTDUKDuke Energy making progress restoring power caused by winter storm
Damage assessment efforts have gone well and crews continue to restore power to Duke Energy customers affected by this week's winter storm. Currently, more than 1,800 line personnel, supported by thousands of additional resources, are working on the restoration effort. As of early this evening, power had been restored to nearly 150,000 customers. Additional icing and the rebound effect of thawing tree limbs on power lines today caused additional outages. Road conditions also affected crews' ability to safely assess and restore power in some areas. The company expects to have storm-related outages restored by late Wednesday evening. However, most customers will be restored sooner. There may be isolated, scattered outages remaining beyond this time, depending on individual cases. Based on the estimated time of restoration, families who have special medical needs or elderly members should consider making alternate arrangements as needed.
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